Finding the correct marketing attribution model for your business can be tricky. But, it’s crucial to indicate how marketing has participated in generating revenue.
In Returnly’s case, this falls under the responsibility of the Business Ops team. Yash Arora, Business Operations Manager, explains that “to gauge marketing’s influence we are essentially measuring the following; the number of MQLs, number of MQLs converted to opps (quantity), number of MQLs that reached demo stage (quality), number of MQLs disqualified at the lead stage.”
Not only does Returnly consider MQLs, but also overall revenue contribution in the “pipeline generated by marketing and revenue of marketing-generated pipeline won.”
Tom Andrews, Revenue Operations Manager at PassFort, says that they have implemented a multi-attribution revenue influence model. So, in this case, marketing’s efforts are not evaluated on the number of leads. Instead, it evaluates marketing efforts according to their impact on the pipeline and their overall revenue influence.
Tom shared, “Marketing and Sales efforts to engage customers are becoming ever more entwined. So we’re focusing more on the process of winning deals as a combined front than just who generates the lead, to begin with.”
Other marketing revenue attribution models include strictly using campaign sources. Tommy Taylor, Sales Operations Manager at Lookout, elaborates; “Currently we look at the initial campaign source and most recent campaign source.”
But the ideal situation is that your CRM or sales engagement platform’s “built-in functionalities to attribute each deal to a specific inbound source,” as stated by Kevin Probst, Business Intelligence at Alasco.
With lots of marketing attribution model available; make sure to find which option fits your stakeholders best and helps your marketing team prove their worth.